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Three PDH’s: 1.6014,1.6007,1.6007 within three days and a 250 pip drop immediately afterwards is an indication that a barrier is in place.
Ir is safe to assume cable is influenced by “forces” that are not reflected on your charts.
You never see barriers on your charts.
Yeah I’ve been doing stop-orders for entry never goes in instant. To enter with limit orders takes having more conviction in the s+r level used as trigger but gets one in at a better position than a stop order. If that s+r level breaks then it pretty much looks like a stupid trade, lol. If price keeps running in the right direction without first hitting my limit entry I’d be stupid trader.
I tend to think charts show everything about the market because price is the market, the ultimate meeting between buyer & seller, total net result of activity and sentiments btw/among buyers and sellers. Price discounts all market condition so what is on chart is it and no more outside. Problem is what to perceive from it? That’s why we cant regard some s+r level as a barrier since price can do anything, we look at outside variables to try gauge probable reaction at that level. Is that what you’re trying to say?
WTG! That was nice trading right there… I am stoked when I read these… I simply find inspiration in reading others seeing it come together for themselves. Keep the chain going… patience and execution.
Hey Mozdef… the tools are universal and while the core tenants to my starting this thread was to highlight concepts that puts odds slightly in one’s favor… it by no means is a limitation to trade solely in line with it all. For instance, if you are looking to build solid foundation and low risk trades… only selecting trades that have the Market Flow and COT in sync will point you in the right direction… but there will be many trade setups contrarian to those conditions and those versed in counter-trend or contrarian in nature can still sniff out a gainer in the market.
Don’t lose sight of “your” goal and be distracted by what others might be doing day to day. Your style may require sitting on your hands more but the trades could pay out comparably in pips do to the magnitude they present.
COT and OI setups are more intermedite term in nature… these trades we are sharing in these recent posts are intraday trading… a different animal all together.
I see resistance… and this seems to repeat itself enough to conclude I can see barriers on my charts. What the underlying premise behind it fundamentally… I couldn’t care less… just that I can see it… capitalize on it… and bank on it routinely.
I have received a number of emails about COT and OI {Open Interest} so I will be expanding my explaination and applications this weekend. This has created such a fever for more insight I am encouraged by such an eagerness to learn.
Great perspective LS1… realistic in terms of accepting losses will plague you and your trading and prepare for it… but the wins should outweigh the losses on average and therein lies your “edge”… milk it.
The GetMarketInfo.ex4 was explained to me as needed to have the Mt4 indicator to work properly… so I shared it how I was given it. I’ll leave the nuts and bolts to the coding and whatnot to the more learned around here. :o
Thank-you very much. I really look forward to viewing the video and gaining more insight.
One more query/question…Which session would you say you trade the most? There seem to have been a lot of opportunities in London morning session of late, whereas I was expecting more opportunities on the London/NY cross-over.
I trade the London session the majority of the time… but have been known to trade in the New York session as well. The least traded session on my personal accounts is Asian as this session, while profitable at times… provides me too thin or light volatility for my personal trading style. However, don’t think because I don’t trade Asian you shouldn’t… there is a swing every day there worth 15-25 pips on the regular.
Thanks ICT for these words of encouragement. I will stick to the more safe trade opportunities and once I’m comfortable with those then look to add more risky setups into the fold. You’re so right that I should not get distracted by other peoples trades, everyone has their own style of trading and risk tolerance. I will work own developing and refining my own style of trading.
How likely is it that you’d find an indecision candle that favors the direction of the Commercial C.O.T. data … WHILE the market flow is also in alignment with the Commercial C.O.T. data?
These feel like things that probably wouldn’t be happening together.
(i.e. You’d be more likely to get a bullish indecision candle when market flow is down.) But I know that it’s not IMPOSSIBLE to get both things happening together.
Just trying to understand how unlikely it would be.
It’s your money… know your setups and make them your own. Stay the course and learn the generic cycles and characteristics PRICE repeatedly exhibits day after day… then it will be nothing for you to let the others post their trades and have it make no matter to your bottomline or more importantly… your psyche.
There are times when even my tools conflict and if I can’t arrive at a bias that is defined by either Market Flow and Market Structure… or possibly Pivot Fib Confluence or COT and Sentiment for longer term trades… I sit on my hands. Hence the term I get “hisses” for more than any other… P.A.T.I.E.N.C.E. lol :rolleyes:
To answer your question, I have seen it occur enough to know it is not a rare event… in large consolidations… it can occur more frequently than you might expect.
I turned my account leverage down to 20:1 from 50:1 so I can learn how to sit on my hands!
edit:
I can’t believe I did it, but turned leverage down to 10:1, realized it really is all I need! I feel like I “get it” now, slow and steady does win the race
